Just started looking into these. Perhaps i need to learn more about reading financial statements, but they issued $2,050,000 to 4 directors to buy shares at 55c, with an attached listed option. The interest is payable monthly at a rate of 5% per annum. If my maths serves me correctly, this should mean that the interest charged p.a. should be $102,500.00 pa, whereas interest charged was actually $12,075.00. Its on page 85 of the annual report. Anyone able to help a newbie understand what they're missing?
Just started looking into these. Perhaps i need to learn more...
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